Diaz Reus News

Securities Fraud: Class Plaintiffs in Securities Fraud Case Against Chinese Company Facing Difficulties

by RitaZhao June 21, 2011 Diaz Reus News

In Perry, a shareholder class sued a Chinese printing company, as well as its current and former officers and directors, for making false and misleading statements in violation of the Securities and Exchange Act of 1934. Plaintiffs allege that the company failed to disclose certain details about its expenses and made deceptive statements thereby damaging […]

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Making Banks Pay for Madoff’s Fraud

by RitaZhao April 27, 2011 Articles

Risk Management   April 4, 2011 The impact of Bernard Madoff’s $18 billion Ponzi scheme will be felt for a long time to come. With Madoff in prison, his assets seized and sold, lawyers for his victims must now turn to other sources to make their clients whole. Enter the banks. Madoff handled billions of dollars. […]

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BONDHOLDERS WILL CONTINUE TO PURSUE ARGENTINA’S BANCO DE LA NACIóN

by RitaZhao April 27, 2011 Diaz Reus News

Latin Lawyer, March 31, 2011 The lawyers for a group of holders of defaulted Argentine debt have said that they will continue to pursue Banco de la Nación (BNA), just days after a US district court dismissed a case against Argentina and the bank. "While we continue to believe that there is more than enough […]

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经陪审团审理,法院对委内瑞拉大亨西斯内罗斯判决承担数百万美元

by RitaZhao April 27, 2011 Diaz Reus News

美国佛罗里达州迈阿密市(2011年3月28日) –十年前,拉丁美洲银行(Banco Latino, S.A.C.A.) 为了收回一笔数百万美元的贷款,起诉了出身于委内瑞拉显赫家族的米拉格罗斯西斯内罗斯以及她现已解散的公司——委内瑞拉矿业开发公司(Explotaciones Mineras de Venezuela, C.A.“Exmivenca”)。今天,该案件一锤定音,经陪审团参与审理三天后,西斯内罗斯的律师——来自迈阿密Tew Cardenas 律所的Thomas G. Schultz 和 Bryan T. West 宣布认输并承认了所有的法律责任。在听取了银行证人的证词之后,Schultz 先生对迈阿密戴德县巡回法院法官玛克辛科恩兰多宣布,西斯内罗斯将同意支付法院判决的九百二十五万八千八百七十六点七七美元。 在原告银行于1999年2月提出的控告中称,西斯内罗斯女士,作为Exmivenca矿业开发公司唯一的股东,与该银行达成了一年的协议,建立一个贸易信贷机构来资助一些对委内瑞拉出口的美国供应商。为了进一步促使银行发放贷款及垫付资金,西斯内罗斯女士无条件地亲自保证了Exmivenca对该银行还款的所有义务和责任。   1993年10月,Exmivenca对当时的信贷额度续签了一年,并支付给该银行数额250万美元的承兑票据。之后,直到当年12月,Exmivenca又利用这个信贷额度从该银行获得了1,188,739.33美元的额外贷款。   最终,Exmivenca拖欠了这笔贷款,因为它在承兑票据到期时无法支付欠该银行的未偿还本金及利息。   来自达瑞律所的Michael Diaz Jr., Gary E. Davidson, 和Carlos F. Gonzalez代理了拉丁美洲银行。律师们对判决结果非常满意,尤其是因为西斯内罗斯女士同意支付所有的银行债款。    拉丁美洲银行首席出庭辩护律师Michael Diaz, Jr.,表示:“这对于委内瑞拉银行当局是一场令人瞩目的胜利。出庭律师总是希望陪审团作出对自己有利的裁决,但这场胜利更令人高兴因为你的对手在甚至还未结束案件时就投降了,”Diaz先生补充说,“西斯内罗斯的投降表明了我们在此案上的强势”。Davidson 先生说:“尽管在现下环境中有大量对银行的不满,我们仍然坚信,当我们呈上西斯内罗斯以其公司担保的贷款的证据,陪审团会转向对我们有利的裁决。”Gonzalez先生表示同意,“最终,西斯内罗斯的律师们意识到西斯内罗斯家族不可能赢下这个案件。”   美国达瑞律师事务所是一家国际律所,致力于商业交易、民法以及刑事诉讼和仲裁等,办事处遍布中国上海、德国法兰克福、委内瑞拉加拉加斯、哥伦比亚波哥大、墨西哥墨西哥城以及位于巴西的分所。预知更多信息,请访问www.diazreus.com。

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Cisneros family member Milagros Cisneros Fajardo agrees to pay $9.25 million to end suit

by RitaZhao April 27, 2011 Diaz Reus News

Daily Business Review, March 30, 2011 After fighting a multimilliondollar judgment for more than a decade, a member of Venezuela’s prominent Cisneros family consented during trial to pay a Venezuelan bank for defaulted loans. Three days into a Miami-Dade Circuit jury trial last week, attorneys for Milagros Cisneros Fajardo agreed she would pay the full […]

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The Black Gold Rush

by RitaZhao April 27, 2011 Diaz Reus News

Pipeline, March 27, 2011 World interest may be focused on the dramatic political changes taking place in North Africa, but the continent’s energy industries are still booming. Africa’s oil and gas landscape is changing fast, with commercial battling taking place between Western companies and Asian players. Ghana, Kenya, Nigeria and Angola have become sites of […]

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Asset Hunting and Anti-Money Laundering: Justice on the Trail of Tears

by RitaZhao April 27, 2011 AML

by Michael Diaz ,Jr., Carlos Gonzales, Sumeet H. Chugani and Xingjian Zhao The Financial Law Report, March 1, 2011 In recent years, the terms “Ponzi scheme,” “financial fraud,” and “mon­ey laundering” have become unfortunate household names. Fraudsters like Bernard Madoff have given new meaning to the term “financial fraud,” leaving behind a trail of tears and […]

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Diaz Reus & Targ, LLP opens office in Dubai International Financial Centre

by RitaZhao April 20, 2011 Diaz Reus News

It has been reported that Diaz Reus & Targ, LLP, a Miami-based full-service international law firm focusing on project finance, trade, customs, financial, commercial and corporate transactions and governance, foreign government relations, tax planning, immigration, litigation, and arbitration, has opened a new full service office in the Dubai International Financial Centre (DIFC), announces Michael Diaz, […]

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Risk-based compensation practice in the US

by RitaZhao March 16, 2011 Diaz Reus News

by Adriana C. Clamens Risk-based compensation is a practice whereby banks and financial institutions create attractive compensation packages as an incentive for executive employees willing to make risky —inherently unsafe—business and financial decisions. The recent history of the financial markets strongly suggests that the practice of incentive-based compensation compel bank executives to turn a blind […]

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Fraud Victims ‘Breaking The Bank’

by RitaZhao March 16, 2011 Diaz Reus News

by Michael Diaz Jr. and Carlos F. Gonzalez As the architect of the largest Ponzi scheme in recorded history, Bernard Madoff swindled investors out of billions. His actions ruined the lives of countless individuals and, for that, he has been properly punished. The same, however, cannot be said for those that helped Madoff pull off […]

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